> For the complete documentation index, see [llms.txt](https://docs.leverage.art/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.leverage.art/technical/for-developers.md).

# For Developers

**Markets**: Perp contracts on *collection* floor prices (not individual NFTs). Quote in USD (USDC on Base). Leverage: Start 1–5× (raise later if oracle/liquidity proves robust). Settlement: Cash-settled in USDC; no NFT custody. Funding: Standard perp funding vs. a “mark price” oracle; frequent funding (e.g., hourly) to anchor to fair value.

**Fundamental settlement layer**

We have built on perennials which is designed for custom, isolated perp markets and already operates with Pyth oracles on Base. OpenSea API points to the NFT floor oracle, get peer-to-pool LPing, dynamic funding, and intent/onchain order support out of the box.

**Oracles**

NFT floors are noisy and manipulable. We have used a robust composite floor index per collection:

**Sources**:

1. Chainlink NFT Floor Pricing Feeds
2. On-chain AMM TWAPs
3. Aggregated marketplace data from Blur and OpenSea

The aggregation is done as a median-of-medians over eligible sources after filtering outliers; clamp per-interval moves (e.g., max 3%/5m); pause if total on-chain volume < threshold over last N minutes.

**Margin and liquidations**

Collateral: USDC on Base; isolated markets with cross-margin later. Initial/Maintenance: e.g., 20% / 12% (tunable per collection volatility/liquidity). Liquidations: index = oracle mark; partial liquidation first, full if < maintenance after penalty. Funding: skew-based and volatility-adjusted. Collections with thinner depth get higher funding sensitivity and lower max leverage. Guards: per-account and global open interest caps, max position size per market, per-block notional caps, and trading halts on oracle degradation.

**Liquidity & LPs**

P2P LPs deposit USDC into an ERC-4626 vault per market or a diversified vault across collections. LPs earn funding, maker fees, and (optionally) incentives.